DENVER (BRAIN) — Mike’s Bikes, the California retailer acquired by Pon.Bike last August , has bought the four-store Elevation Cycles chain in the Denver area.
Elevation Cycles, founded in 2012, has long been closely associated with Trek. A former Trek employee and his partners founded the chain in 2012 with the help of Trek. The chain began with the acquisition of a former Bicycle Pedal’r store in Highlands Ranch.
Furthering the association, at least one of the stores’ exteriors features a Trek logo, and Elevation Cycles briefly owned a location in Boulder that was later acquired by a third party and then sold to Trek; it’s now a Trek company store. However, Elevation Cycles has never been owned by Trek Bicycle. Prior to the acquisition by Mike’s, which went through a few weeks ago, the stores carried Trek, Pivot, Giant and Kona bikes.
Going forward, the stores will sell Pon’s Cannondale brand as well as Giant and Orbea, but not Trek.
That was Trek’s decision, said Ken Martin, the president of Mike’s Bikes.
“We were fully prepared to be a Trek dealer in Denver, but they decided to not move forward with that, which I understand,” he told BRAIN on Friday. Specialized made a similar decision after Pon acquired the Mike’s chain, immediately ending its relationship with Mike’s rather than continue to do business with a perceived competitor.
While Trek seems to be taking a gradual wind-down of its business with Elevation, the company is already advertising for multiple retail positions in Highlands Ranch and […]